NEW YORK, Nov. 16, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Southern District of New York, Case No. 1:18-cv-10392-JMF, on behalf of public common shareholders of Endocyte, Inc. ("Endocyte" or the "Company") (ECYT) who held Endocyte securities on the record date November 15, 2018 (the "Class Period"), and have been harmed by Endocyte and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to affiliates of Novartis AG ( the "Proposed Merger").
Under the terms of the Proposed Merger, Endocyte shareholders are only anticipated to receive $24.00 in cash for each share of Endocyte common stock they own (the "Merger Consideration"). The complaint alleges that the Merger Consideration is inadequate and that the proxy statement regarding the Proposed Merger (the "Proxy") provides shareholders with materially incomplete and misleading information about the Proposed Merger, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the complaint alleges that the Proxy contains materially incomplete and misleading information concerning the valuation analyses performed by the Company's financial advisors, Centerview Partners LLC and Jefferies LLC, in support of their fairness opinions. The special meeting of Endocyte shareholders to vote on the Proposed Merger is currently scheduled for December 20, 2018.
If you wish to serve as lead plaintiff, you must move the Court no later than January 15, 2019. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: https://monteverdelaw.com/case/endocyte-inc. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating mergers & acquisitions and securities class actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017, and 2018, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341
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